Key Takeaways
- President Donald Trump held a "very interesting" meeting with Intel (INTC) CEO Lip-Bu Tan, alongside Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent, on Monday, signaling a potential de-escalation of previous tensions.
- The high-level White House engagement follows Trump's recent public calls for Tan's resignation over alleged conflicts of interest tied to Chinese businesses, a move that had previously impacted Intel's stock.
- Intel's stock (INTC) surged over 5% following the news of the meeting, recovering from a prior decline and re-entering positive territory for the year.
- Discussions are set to continue, with Tan and the Cabinet members expected to present recommendations to the President within the next week.
U.S. President Donald Trump announced on Truth Social that he held a significant meeting with Intel (INTC) Chief Executive Officer Lip-Bu Tan, accompanied by Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent. The President described the discussion as "very interesting" and lauded Tan's career as "an amazing story," indicating a notable shift in tone from his recent criticisms.
The meeting comes after President Trump had publicly demanded Tan's immediate resignation last week, citing concerns over alleged conflicts of interest related to his past ties and investments in Chinese businesses. Republican Senator Tom Cotton had also raised questions regarding Tan's prior role as CEO of Cadence Design Systems, which recently pleaded guilty to violating U.S. export controls. Despite these allegations, Tan and Intel's board have consistently affirmed their commitment to advancing U.S. national and economic security interests, aligning with the administration's "America First" agenda.
The semiconductor giant's shares responded positively to the news of the White House meeting, with Intel (INTC) stock climbing over 5% in Monday trading. This rebound suggests that investors are reacting favorably to the dialogue between the administration and the chipmaker, potentially easing concerns about future regulatory or political pressures on the company.
Commerce Secretary Howard Lutnick, who assumed his role in February 2025, has been an active participant in discussions concerning U.S. economic policy, including trade relations with China and the strategic importance of domestic manufacturing. Treasury Secretary Scott Bessent, confirmed in January 2025, is a seasoned investor known for his support of tax cut extensions and tougher economic stances on China and Russia. Their presence underscores the broad governmental interest in Intel's operations and its critical role in the U.S. technology and national security landscape.
President Trump stated that Lip-Bu Tan and the cabinet officials will continue their discussions and are expected to present a set of recommendations to him within the coming week. This ongoing engagement highlights the administration's focus on domestic chip manufacturing and securing the U.S. supply chain, particularly in light of global geopolitical complexities.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.